AEP names leader for power-plant transition

Friday

Dec 14, 2012 at 12:01 AMDec 14, 2012 at 6:19 PM

American Electric Power has named the executive who will be in charge of the transition of the company's Ohio power plants to a new unregulated subsidiary, part of a larger series of changes that will lead to the announcement of further restructuring and layoffs early next year.

Dan Gearino, The Columbus Dispatch

American Electric Power has named the executive who will be in charge of the transition of the company’s Ohio power plants to a new unregulated subsidiary, part of a larger series of changes that will lead to the announcement of further restructuring and layoffs early next year.

Charles Zebula, who is now the company’s treasurer and senior vice president, will become executive vice president for energy supply, AEP said this morning.

The changes in Ohio are happening at the same time the company is studying how to make its structure more efficient. AEP has said it will announce the results, which will include layoffs, in the first few months of next year. The company has not given any indication of how much it will reduce head counts.

“We are taking a look at everything to see if we can find ways to be more efficient and, in turn, help reduce our operating costs,” said spokesman Pat Hemlepp.

Columbus-based AEP has about 18,700 employees in its 11-state territory, of which 5,980 are in Ohio and about 3,300 are in central Ohio.

AEP Ohio is splitting into two parts. One will handle the delivery of electricity; the other will own AEP’s Ohio power plants.

“We are redefining our organization to better address the business challenges we face today and potential opportunities in the future,” Nick Akins, president and CEO, said in a statement.

Julie Sloat, now the vice president for regulatory case management, will replace Zebula as treasurer.